You want to borrow money to buy a new or second-hand car. If your financial position allows this, various forms are possible, namely car loan, car credit, car financing.
Are you going to borrow money for a car then it is wise that you adjust the term of the loan to the (expected) life of the car. So if you expect to stay with the car for 5 years, it is best to ensure that the loan is repaid by no later than 5 years. This prevents you from getting into another car and the loan for the old car is still running. In that case there is a risk that the height of the car loan or the car credit is higher than the value of the car.
A car loan has a fixed term and a fixed monthly amount. The advantage is that the interest is also fixed and you are therefore not faced with surprises. You can arrange exactly in advance when the car loan must be redeemed. You can use your monthly budget as the starting point for the car loan so that we can see what amount you can borrow on this basis and with what duration. You can also indicate what you want to borrow so that we can see for you what the monthly costs will be for this. In all cases, we fully align the car loan with your wishes as you did with the purchase of the car.
An auto credit has a variable term and a variable interest rate. With an auto credit you can pay extra at no extra cost. This form of credit is suitable when you need money for a car, but you also have ongoing loans or loans that you want to convert at more favorable conditions. With a car credit you have to take into account yourself that at the end of the life of the car sufficient credit has been paid off. At that moment you can use the available balance on your car credit to purchase another car!
An auto financing can be either a car loan (Personal loan) or an auto credit (revolving credit), or a combination of these two forms. This allows for a very precise car financing that is fully tailored to your needs, even if they go beyond the purchase of a car.